EUR/GBP Forecast February 13, 2017, Technical Analysis

The EUR/GBP pair went back and forth during the day, forming a slightly negative candle. We continue to find support at the 0.85 level, but it appears that the sellers are really pressing the issue. If we can break down below the 0.8450 level, the market will then be free to go much lower. Alternately, if we can break above the top of the range for the session on Friday, the market should then reach towards the previous hide. Nonetheless, I think no matter what happens it’ll be very choppy in this market.

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